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IPFS News Link • Stock Market

Futures Tumble Following Dismal Chinese Trade Data

• https://www.zerohedge.com

The torrid post-Christmas rally, which fizzled last Friday, appears to be officially dead just as earnings season begins, with futures sliding early in the session only seeing the drop accelerated after dismal trade data out of China reignited concerns about global growth and ahead of a key Brexit vote on Tuesday, leading to a sea of red in global markets with S&P futures down 1% to session lows around 6am ET, alongside sliding stocks in Europe and Asia. Treasury yields fell to 2.66% while the dollar held steady.

Tech stocks were the biggest losers in the Stoxx Europe 600 Index on renewed fears about a China hard-landing; in Asia, losses were most pronounced in Hong Kong after China posted the worst import and export figures since 2016. The index of Europe's leading 300 shares slipped 0.7 percent in early trade to 1,365 points. Germany's DAX and France's CAC fell around 0.6 percent, with shares in European tech and luxury goods companies and the automotive sector suffering some of the biggest declines.


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